ALGO

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Funding spread now, next payment 17:00 UTC−0.0538%/8h

next payment, per $10,000−$0.67paid, last 24h−0.073%paid, last 7 days−0.262%to open and closeno order book

Long on Injective Short on Kraken Futures

The current rate is far above what this pair has been paying: over the last 7 days it paid -0.262% in total (about -13.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.67 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective ALGO/USDC PERP	0.1129	0.0033	pay 0.0004% / 1h	39m 14s	$841	$115K	12x
Short	Kraken Futures PF_ALGOUSD	0.1123	−0.0504	pay 0.0063% / 1h	39m 14s	$845K	$1.8M	50x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee InjectivebpFee Kraken FuturesbpOrdersRate

Funding earned: −$112.94
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$122.96
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Kraken Futures: live order book, 1 min ago. Net counts fees only.

Price risk

price view

Price gap now: −0.567%
Avg gap 7d: +0.820%

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Injective no order-book sample	—	—	—	—	—
Sell Kraken Futures live order book, 1 min ago	10.68 bp	32.6 bp −$33	64.4 bp −$644	doesn't fit	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

ALGO on 22 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Kraken Futures PF_ALGOUSDshort	−0.0504%	1h	$845K	$1.8M	50x
Deribit ALGO_USDC-PERPETUAL	−0.0374%	1h	$101K	$55K	25x	as long as short
Bybit ALGOUSDT	−0.0014%	8h	$11.4M	$13.4M	75x	as long as short
gTrade (Gains Network) ALGO/USD	L +0.0001% / S +0.0003%	1h	$7K	—	150x	as long as short
Injective ALGO/USDC PERPlong	+0.0033%	1h	$841	$115K	12x
Coinbase International ALGO-PERP-INTX	+0.0064%	1h	$61K	$434K	50x	as long as short
Hyperliquid ALGO	+0.0100%	1h	$3.6M	$2.4M	5x	as long as short
Aster ALGOUSDT	+0.0100%	8h	$42K	$80K	5x	as long as short
Binance ALGOUSDT	+0.0100%	8h	$10.4M	$37.9M	75x	as long as short
OKX ALGO-USDT-SWAP	+0.0100%	8h	$3.0M	$9.3M	50x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Gate ALGO_USDT	+0.0100%	8h	$848K	$933K	50x	as long as short
MEXC ALGO_USDT	+0.0100%	8h	$22.3M	$3.4M	200x	as long as short
KuCoin ALGOUSDTM	+0.0100%	8h	$3.6M	$1.8M	50x	as long as short
Bitget ALGOUSDT	+0.0100%	8h	$5.7M	$4.1M	75x	as long as short
BingX ALGO-USDT	+0.0100%	8h	—	$3.2M	—	as long as short
Variational Omni ALGO	+0.0100%	8h	$65K	$195K	—	as long as short
HTX ALGO-USDT	+0.0100%	8h	$67K	$114K	75x	as long as short
Extended ALGO-USD	+0.0104%	1h	$7K	$207K	10x	as long as short
GMX ALGO/USD [WBTC.b-USDC]	L +0.0157% / S −0.0081%	1h	$5K	—	100x	as long as short
BloFin ALGO-USDT	+0.0220%	8h	$510K	$800K	75x	as long as short
Phemex ALGOUSDT	+0.0448%	8h	$3.9M	$1.9M	50x	as long as short
dYdX ALGO-USD	+0.0801%	1h	$161K	$6K	5x	as long as short